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WaPo

“The reality of a stock market crash is probably the only way Washington will strike a deal”

As things stand now, some worry that nothing short of a catastrophe could force a resolution.

“We have sunk to the lowest common denominator in order to get a deal — sheer panic,” said Republican strategist Ron Bonjean, a former aide to House and Senate leadership. “The reality of a stock market crash is probably the only way Washington will strike a deal. It is probably the only scenario that could likely force the speaker’s hand and allow for a deal driven by Democratic votes to pass the House.”

Which, of course, is not an ideal way to govern.

“The hard-core anti-tax conservatives in the GOP seem to believe that Barack Obama will be blamed if there is no agreement reached to avoid sequestration and the tax increases that are coming,” said Sheldon D. Pollack, a University of Delaware law and political science professor who has written a history of Republican anti-tax policy. “Calculated gamble? Or are they simply incapable of recognizing that they do not control the White House or the Senate, and hence do not have the ability to control the agenda? Sadly, I think it is the latter.”

Blowback

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Or are they simply incapable of recognizing that they do not control the White House or the Senate, and hence do not have the ability to control the agenda? Sadly, I think it is the latter.”

Piss off, crying leftist wing ding.

A law and political science professor should know better why our government was designed the way it was. This dude’s just another liberal who’s angry because not everyone is bowing to his Dog Eating Messiah.

If we’re lucky, we’ll get off with a stock market crash a la The Great Depression. More likely, the bottom will drop out of the world economy completely as the USD becomes worthless practically overnight while the world dumps USDs for reserve currence in favor of something a little more stable, like the Russian Ruble.

“The hard-core anti-tax conservatives in the GOP seem to believe that Barack Obama will be blamed if there is no agreement reached to avoid sequestration and the tax increases that are coming,” said Sheldon D. Pollack, a University of Delaware law and political science professor who has written a history of Republican anti-tax policy. “Calculated gamble? Or are they simply incapable of recognizing that they do not control the White House or the Senate, and hence do not have the ability to control the agenda? Sadly, I think it is the latter.”

It’s not just that the Republicans are often wrong, it’s that they are frankly incapable of leadership or even adult-like behavior. I almost feel sorry for Boehner, whose caucus appears to consist of none-year-olds throwing temper tantrums.

It’s not just that the Republicans are often wrong, it’s that they are frankly incapable of leadership or even adult-like behavior. I almost feel sorry for Boehner, whose caucus appears to consist of none-year-olds throwing temper tantrums.

They don’t want a stock market crash because bho/team needs lots and lots of money in the 401K/ira’s/etc. when they come snatch it from those who has one? And if you don’t think that might not happen, you might want a re-think? There is trillions upon trillions bho/team can’t get their greedy hands on now, but want to?
L

It’s not just that the Republicans are often wrong, it’s that they are frankly incapable of leadership or even adult-like behavior. I almost feel sorry for Boehner, whose caucus appears to consist of none-year-olds throwing temper tantrums.

urban elitist on December 22, 2012 at 1:30 PM

I have been trying to tell conservatives for years that the GOP is about as useful to them as a unicycle is to a canary. They can’t prioritize, they won’t keep their promises, they backstab them so often they might as well be liberals.

2012 will be seen as the point people “got it” – but probably only in hindsight. And that’s if certain parts of history don’t become lost knowledge after we go over the fiscal cliff…

It’s not just that the Republicans are often wrong, it’s that they are frankly incapable of leadership or even adult-like behavior. I almost feel sorry for Boehner, whose caucus appears to consist of none-year-olds throwing temper tantrums.

urban elitist on December 22, 2012 at 1:30 PM

LOL.

Versus Pelosi, Reid, and Obama, all of whom are rolling around on the floor in diapers shrieking “WE HATE THE RICH! WE HATE THEM! NO SPENDING CUTS! NO ENTITLEMENT CHANGES! WAAAAAAAAAAAAAAAAAHHHHH!”

A law and political science professor should know better why our government was designed the way it was. This dude’s just another liberal who’s angry because not everyone is bowing to his Dog Eating Messiah.

Bishop

Truth hurts, eh? You’ll be the first one whining when “it” does “burn.”

Obama has the bully pulpit, and he is the most arrogant, divisive bully to ever occupy the WH. His idea of a deal is total capitulation by the Republicans. He gives up nothing.

But of course everything is John Boehner’s fault. Once the TrueCons replace him with one of their own–as if anyone (including a resurrected Ronald Reagan) could ever make them happy–all will be right with the world.

Interesting that the TrueCons and the POTUS they supposedly despise have the same goal, and are on course to accomplish it in such grand style: the destruction of the Republican Party.

Well, TrueCons, you better get your wonderful new Purity Party up and running PDQ. Obama always wanted to be a dictator…so exactly who is going to stop him?

The hard-core anti-tax conservatives in the GOP seem to believe that Barack Obama will be blamed if there is no agreement reached to avoid sequestration and the tax increases that are coming

They’re nuts. Torpedoing tax relief for 99.81% of Americans because the top 0.19% didn’t get an extension is insanity. It vindicates the Democrats when they complain that the GOP cares only about the top 1%. And the GOP has handed that talking point to them now on a silver platter. Stupid, stupid, stupid.

It’s not just that the Republicans are often wrong, it’s that they are frankly incapable of leadership or even adult-like behavior. I almost feel sorry for Boehner, whose caucus appears to consist of none-year-olds throwing temper tantrums.

A law and political science professor should know better why our government was designed the way it was. This dude’s just another liberal who’s angry because not everyone is bowing to his Dog Eating Messiah.

Bishop on December 22, 2012 at 1:27 PM

You seem angry today.

I like this Bishop better.

The frustration I feel at how everyone is blind to what is obvious all around them has me angry and confused.

How can any American think it’s okay to enslave our children in the future?

It’s not just that the Republicans are often wrong, it’s that they are frankly incapable of leadership or even adult-like behavior. I almost feel sorry for Boehner, whose caucus appears to consist of none-year-olds throwing temper tantrums.

urban elitist on December 22, 2012 at 1:30 PM

Where is Harry Reid’s plan? Where is King Obama’s plan? Why won’t they put their plan on the floor and vote on it?

Or are they simply incapable of recognizing that they do not control the White House or the Senate, and hence do not have the ability to control the agenda? Sadly, I think it is the latter.”

Piss off, crying leftist wing ding.

A law and political science professor should know better why our government was designed the way it was. This dude’s just another liberal who’s angry because not everyone is bowing to his Dog Eating Messiah.

They don’t want a stock market crash because bho/team needs lots and lots of money in the 401K/ira’s/etc. when they come snatch it from those who has one? [snip]
L

letget on December 22, 2012 at 1:34 PM

No, President Choom is not worried about that. Not that they won’t try to steal that money (they will), it’s just that they know they can print as much much money as they want. Inflation? They don’t care…

The cuts are tiny and wouldn’t cause a crash. The tax increases hurt wealth, but they probably wouldn’t cause much of a sell off. If the odds of them not reaching a deal is already priced into the market, it doesn’t seem to have moved the markets all that much since stocks are currently only about 3% off from a five-year high.

The cuts are tiny and wouldn’t cause a crash. The tax increases hurt wealth, but they probably wouldn’t cause much of a sell off. If the odds of them not reaching a deal is already priced into the market, it doesn’t seem to have moved the markets all that much since stocks are currently only about 3% off from a five-year high.

theperfecteconomist on December 22, 2012 at 1:56 PM

I’m not worried about the markets. I’m primarily worried about hyperinflation. There isn’t an EFI out there nowadays that doesn’t involve printing money in some fashion.

Bill Whittle thinks they care. He thinks it’s part of their plan. I think he’s right. I think Obama plans to use inflation as the great leveler, inflating away savings/wealth and replacing it with government dependencies.

Bill Whittle thinks they care. He thinks it’s part of their plan. I think he’s right. I think Obama plans to use inflation as the great leveler, inflating away savings/wealth and replacing it with government dependencies.

petefrt on December 22, 2012 at 2:07 PM

Makes sense to me. I mean, think about it. The government takes earning power from the masses and does it all equally to everyone with hyperinflation while they just print more money every time they have a debt to pay. Sure it’s unsustainable, but as far as the government is concerned, it doesn’t have to be sustainable.

They’re nuts. Torpedoing tax relief for 99.81% of Americans because the top 0.19% didn’t get an extension is insanity. It vindicates the Democrats when they complain that the GOP cares only about the top 1%. And the GOP has handed that talking point to them now on a silver platter. Stupid, stupid, stupid.

Stoic Patriot on December 22, 2012 at 1:41 PM

Not really.

The Obama base, which makes up the majority of the no-payers, are for the first time in their lives actually going to recognize what the rhetoric about “Clinton tax rates” means — as in, they start paying.

You think Obamaphone Lady had a meltdown before, wait until she actually has to even SEE a Form 1040.

Meanwhile, the Republicans can very easily grab the initiative. Put together a new package of $6 trillion in tax cuts coupled with $6 trillion in spending cuts over the next ten years, score it using Obama Party “static” rules, make sure it comes out deficit neutral, and then announce it as “paid-for tax cuts that return money and eliminate wasteful government spending”.

Then watch Pelosi, Reid, and Obama sh*t themselves.

As Drew points out here, Obama’s “negotiating” position was simple: tax hikes and no spending cuts. You get nothing, I get everything.

Put a bill like that up, and Pelosi/Reid/Obama have the curtain yanked back on them — that their “tax cuts”, by their own rules, would absolutely skyrocket the deficit and bankrupt the country.

Every single Republican in the House will vote for it. And in the Senate, since it’s deficit neutral, one needs only 50 votes to pass it — votes that will come from purple- or red-state Obama Senators that are desperate to save their bacon.

Or are they simply incapable of recognizing that they do not control the White House or the Senate, and hence do not have the ability to control the agenda? Sadly, I think it is the latter.”

Piss off, crying leftist wing ding.

A law and political science professor should know better why our government was designed the way it was. This dude’s just another liberal who’s angry because not everyone is bowing to his Dog Eating Messiah.

Bishop on December 22, 2012 at 1:27 PM

I was going to say, maybe they believe that tax rates are already too high, the real problem is spending, they don’t see any effort to address spending, and they were elected on the promise to voters they would cut taxes, not raise them. Maybe they believe they have a duty to live up to that promise.

repeat after me there is no crisis. It is made up crap by the elites to spook the people into accepting tax hikes and giving their voters the other party to blame. the fact of the matter is this was set in motion months ago. The GOP agreed to tax hikes and military spending and the dems agreed to cuts in medicare. It is what the two sides want. they don’t want to resolve this crisis. If they did we would have a deal. the dems can “blame” the gop for raising taxes on the middle lcass, the gop can blame the dems for raising taxes on the welathy. the dems can blame the gop for cutting medicare and the gop can blame the dems for the cuts in the defense. This is all made up crap so that niether side gets the full blame and us sheep can stay in conmfort ignorance and blame the “other side”.

this is the some crap they do with free trade and open borders. The elites get what they want open borders and free trade and blame the “otherside” for outsourcing and illgeal immigrants.

But long-term, with a national debt including unfunded liabilities of $220+ trillion — more than three times the present GDP of the entire world (around $70+ trillion presently) — there is a serious crisis that virtually nobody in DC appears to seriously acknowledge, let alone speak out and act responsibly toward …

After the Republican House has departed for whatever fantasy world they live in.

urban elitist on December 22, 2012 at 1:45 PM

Ever think it’s YOU people that live in a fantasy? Under Clinton you people said tax hikes were FANTASTIC! Under Bush you said tax cuts were HORRIBLE! Now you say tax hikes are GREAT! for some people and not for others.

“The hard-core anti-tax conservatives in the GOP seem to believe that Barack Obama will be blamed if there is no agreement reached to avoid sequestration and the tax increases that are coming,” said Sheldon D. Pollack

The spin is getting tedious

repeat after me there is no crisis. It is made up crap by the elites to spook the people into accepting tax hikes and giving their voters the other party to blame. the fact of the matter is this was set in motion months ago.

..this is the some crap they do with free trade and open borders. The elites get what they want open borders and free trade and blame the “otherside” for outsourcing and illgeal immigrants.
wake the hell up people.
unseen on December 22, 2012 at 2:12 PM

A lot of truth in what you say. This is a setup. Exactly who is involved is debatable

Rush was correct. Obama wanted Boehner to offer a no strings tax hike, which he could use as a signed confession that the upper GOP finally admits undertaxation is the only problem. Obama ran all over TV proclaiming just that

Obama did not need the bill to pass. He just needed the signature

1. The Senate was going home. Obviously they did not want a bill to pass. Question: Did Boehner not know this (LOL) or did he push a bill in the House which was guaranteed to fail – in the House, so he could blame Tea Party? With no Senate, the onus is on the House

2. I watched Boehner react to how his own party ‘failed’ to help him avoid the fiscal cliff Question: is Boehner a naive fool, or does he want the public to turn on the ones in his own party who did not go along with Boehner. Whether he wanted to stage a purge or not, Boehner pulled a Christie, he set up a play which made his own group look like they were the ones who did not care, by isolating the players and siding with the opposition (the WH). For this, I can call him a fool

Boehner had no hope to produce a bill the Senate would approve. If you think you are outvoted, you have no gain in compromising your base. Write legislation to the base, and let the other party own the outcome.

Clue: when Boehner demoted Tea Party as ‘untrusted’ he signaled the Tea Party was his problem. Then if the vote failed, he could finger this group

One gets a leadership position either by smarts, or by being a useable stooge. Takes your pick. Congress has both

But long-term, with a national debt including unfunded liabilities of $220+ trillion — more than three times the present GDP of the entire world (around $70+ trillion presently) — there is a serious crisis that virtually nobody in DC appears to seriously acknowledge, let alone speak out and act responsibly toward …

ShainS on December 22, 2012 at 2:46 PM

maybe not so sure. It appears that the elites plan of inflating our way out of it is going as well as could be hoped. the trick is to inflate(i.e print money) at a rate fast enough to cover our liabilites but not too fast to spook those that deal with dollars. Its a tightrope and it destorys workers savings but its an unseen type of tax and thus the preferred way the elites want to deal with it. As long as they control the power to print money and as long as dollars buy goods and as long as the world is ok with the deal of looking the other way as long as we provide protection to them. the elites loose monatary policy should keep us afloat. Of course this could change from day to day. If the herd spooks and hyperinflation takes hold. If the FEd loses control of interest rates. If the economy goes into a nosedive that the printing presses can’t hide. If unemployment spikes. etc. Anytime you are in debt you are no longer the master of your destiny but rather a tourist on a trip at the whims of whatever is thrown your way.
this is really the reason why those in Dc will not acknowledge the problem because they don’t see it as a problem because they have become use to being able to print money to get out of the debt trap.

Of course like any good plan it will work upto the moment it doesn’t. It’s been going on for decades now. People just assume its the only way to go.

I really think they are playing with fire and maybe they get burned maybe they don’t. If what I suspect about Obama is true he just wants to add gasoline to the fire and see it all burn down. If that is the case then the GOp has a duty to oppose everything he wants and by not doing so the speaker is showing himself as nothing but a Quisling.

One gets a leadership position either by smarts, or by being a useable stooge. Takes your pick. Congress has both

entagor on December 22, 2012 at 3:21 PM

oh the fix is in to blame the Tea party in GOp circles. They don’t really care about the dem voters. But in the GOP party they want to finish off the TEa party to avoid a repeat of 2010 for sure.

the fact that the speaker kicked out of their comittees only 2 weeks before this vote. The fact that like you said it was all worhtless anyhow and just show knowing a vote in the senate would never happen. The quiick rush to point the TEa party as the problem etc. The GOPe want the tEa party sidelined in the worse way. They want them disgraced and blamed for the coming problems. And at the end of the day both the GOPe leadership and the dem leadership get exactly what they want as the squestation kicks in automatically.

I think the only misjudgement that was made is that the GOPe think they are well liked within the party. But if it is made clear to members that it is their job if they support the speaker his “support” will quickly fade away.

This is much like how the GOPe set up 2012 and Mitt’s run by attacking the TEa party for the giffords shootings right afte rthe 2010 elections. Its the opening move to further sideline the tea party. hope it works out differently this time around. But its hard to win a war when you are attacked on all sides including those who say they are your “allies”

Fernandez was re-elected with 54 percent of the vote last year, but her popularity has declined since she began digging ever deeper into the pockets of the middle and upper classes to finance her populist policies.

With inflation running at about 25 percent a year, Argentines have sought to change their pesos for dollars, but the government has cracked down on such trades and made it nearly impossible to obtain dollars legally.

Most Argentines surveyed in polls say they’re most worried by a rise in crime and consumer prices and the strict currency controls.